Secretive startup Magic Leap will release its highly anticipated 'light-field' smart glasses later this year, according to a new report.

The augmented reality (AR) eyewear will add information and graphics on top of objects in the real world.

The glasses, backed by $542 million (£435 million) in funding led by Google, are said to compete with Microsoft's HoloLens glasses and cost around $1,000 (£800).

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Secretive startup Magic Leap will release its highly anticipated light-field smart glasses later this year, a new report has found. Pictured is a still from a 2016 video demo of the technology, in which the glasses projected notifications and applications at eye level to give 'mixed reality'

APPLE'S AR GLASSES

The FT report also claimed that Apple has been working on its own AR glasses technology, but that release is at least a year a way.

'Apple first began to build a team to examine the feasibility of a head-worn device more than a year ago,' the report said.

'Now, it is devoting more resources to its augmented-reality efforts, with the aim of taking it from a science project towards a consumer product, according to people familiar with the company’s plans.

'However, any launch is still at least a year away, perhaps much longer. Apple declined to comment.

'The “light-field” eyewear is said to be smaller than Microsoft’s HoloLens, with a wider field of view, but larger than a regular pair of glasses,' the Financial Times report said.

'The headgear will be tethered to a small pack that provides battery and processing power, to put in a pocket or attach to a belt, and is likely to cost in excess of $1,000. Magic Leap declined to comment.'

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The FT report added that Apple has been working on its own AR glasses technology, but that their release is at least a year a way.

'Apple first began to build a team to examine the feasibility of a head-worn device more than a year ago,' the report said.

The light-field demo video posted to YouTube also showed the glasses projecting a moving 3D model of Mt. Everest to a user as well as jellyfish drifting through the air. The tech has promised to revolutionise computing – but no one knows what it will look like yet

A previous Magic Leap demonstration showed a solar system appearing in front of a user. The glasses, backed by $542 million (£435 million) in funding led by Google, are set to compete with Microsoft's HoloLens glasses and cost around $1000 (£800)

MAGIC LEAP: WHAT WE KNOW SO FAR

In October 2015, Magic Leap announced it had raised $542 million in funding, led by Google.

Other investors included Qualcomm, the world's leading phone chipmaker, Andreessen Horowitz, KKR, and Legendary Entertainment.

Unlike current VR headsets, Magic Leap is a 'mixed reality' device.

So, the user is able to see through the glass, called the ‘photonic lightfield chip.’

While the company wouldn’t explain many details on the design, Kelly reveals that the ‘virtual elements are projected from a light source at the edge of the glass and then reflected into the user’s eyes by the beam-splitting nano-ridges.’

'Now, it is devoting more resources to its augmented-reality efforts, with the aim of taking it from a science project towards a consumer product, according to people familiar with the company’s plans.

'However, any launch is still at least a year away, perhaps much longer. Apple declined to comment.

'As its engineers have become more adept at miniaturisation technology with products such as its AirPods wireless headphones and the iPad’s Pencil, AR seems to have overtaken Apple’s secretive car project as the company’s top priority for its next big launch, beyond the iPhone.'

The report appears to confirm recent rumours that Apple is making the move into augmented reality.

Sources revealed to Bloomberg earlier this month that Apple plans to bring the technology to the masses - and it is the iPhone that will make it happen first.

It claimed the first fruits could be 'Matrix style' 3D photographs that users can move around - and eventually view through AR smartglasses.

It is not a secret that Apple’s CEO Tim Cook (pictured) is a big fan of augmented reality, and Bloomberg sources revealed earlier this month that the tech giant plans to bring the technology to the masses - and it is the iPhone that will make it happen

AR IN THE IPHONE 8?

A rumor regarding the iPhone 8 suggests it will have a front-facing camera and infrared module that senses 3D space.

The sensors in the phone are said to detect the location and depth of objects around it.

The complete 3D system would send invisible IR light signals out from the phone and then wait for them to hit objects and return using the 1.4 megapixel IR receiver.

The camera would be used for a range of applications including facial recognition, iris scanning and overall improved selfies.

It could also place the user’s face on a computer animated character – the front facing camera and 3D sensor would let iOS owners use their selfies for augmented reality.

Cook has called augmented reality a ‘big idea’ and people will ‘have AR experiences every day, almost like eating three meals a day’.

And according to people familiar with Apple’s plans, Cook is putting his money where his mouth is.

Sources familiar to the matter told Bloomberg that Apple is making moves ‘to bring the technology to the masses’.

The firm has been creating a team ‘combining the strengths of its hardware and software veterans with the expertise of talented outsiders,’ said the people to Bloomberg.

The group is run by a former Dolby Laboratories executive and consists of engineers who have been employed with Oculus and HoloLens, as well as a few that have put together digital effects for movies.

Bloomberg had previously revealed that Apple was developing its own pair of smart glasses in February.

This device would allow Apple to move further with its dreams of incorporating augmented reality in its product line.

However, Bloomberg noted that ‘building glasses will be harder'.

Just like the Apple Watch, the digital spectacles will most likely be tethered to the iPhone – leaving the smartphone to do all of the work.

The handset will have to transfer 3D content to the glasses, which will consume a lot of its power.

And another issue Apple may run into is how interesting the content will be if the glasses are programmed with useful apps, immersive games and attention grabbing content.

Sources familiar to the matter told Bloomberg that Apple is making moves ‘to bring the technology to the masses’. The firm has been creating a team ‘combining the strengths of its hardware and software veterans with the expertise of talented outsiders

Apple would also have to cheap out on the hardware in order to price it so the masses can afford to buy it.

And people familiar with Apple’s strategy said the AR-enhanced glasses are further down the road.

One of the features being touted for Apple's AR system includes that ‘ability to take a picture and change the change the depth of the photograph or the depth of specific objects in the picture later; another would isolate an object in the image, such as a person's head, and allow it to be tilted 180 degrees'

At the moment, Apple is exploring features for the iPhone, according to another person.

One of the features includes that ‘ability to take a picture and change the change the depth of the photograph or the depth of specific objects in the picture later; another would isolate an object in the image, such as a person's head, and allow it to be tilted 180 degrees,’ Bloomberg reports.

Bloomberg had previously revealed that Apple was developing its own pair of smart glasses in February. Just like the Apple Watch (pictured), the digital spectacles will most likely be tethered to the iPhone – leaving the smartphone to do all of the work

IS APPLE MAKING AR GLASSES?

A leading expert has claimed Apple's plans have been accelerated, meaning the firm could reveal its first AR glasses this year.

It is believed the iPhone maker is working on lightweight glasses with a small display that would link to a user's iPhone.

Robert Scoble, who shot to fame when he was pictured in the shower wearing Google's Glass, and is a respected blogger, made the predictions during the 'This Week in Tech' online show.

The blogger believes an announcement may be made as Apple finally moves into its new 'Spaceship'HQ later this year, or alongside the unveiling of the 10th anniversary of the iPhone in September, where the iPhone 8 is set to be unveiled.

He said he expects a very lightweight pair of glasses, with the electronics on other places on your body, such as in an iPhone or other wearable.

The wearable headset would connect wirelessly to iPhones and show information that is superimposed onto a user's view of the real world.

The iPhone maker is believed to be working with Carl Zeiss on the project, which could go on sale this year.

Another feature in the developing phase would place virtual effects and objects in the real world, such as on a person – similar to how Snapchat spectacles works.

Although Apple has yet to reveal whether or not it is developing ways to add AR to its devices, it has been spoken about in previous rumors.

Shortly after news of the digital spectacles surfaced, a JPMorgan analyst, Rod Hall, told MacRumors that the iPhone 8 would feature a front-facing 3D laser scanner to detect the user's face, instead of their fingerprint, in order to provide first-class security – which could also be used other applications such as augmented reality.

‘One obvious and potentially most compelling use would be AR/VR experiences in which the user’s hands and other real world objects are being scanned and integrated into a field of view provided by the iPhone mounted into a Google Daydream-like headset,’ Hall wrote in a research note.

‘This would open up many interesting entertainment and gaming experiences not available today and might give Apple something extra in an AR/VR accessory compared to Google and others.’

Shortly after news of the digital spectacles surfaced, a JPMorgan analyst, Rod Hall, told MacRumors that the iPhone 8 would feature a front-facing 3D laser scanner that could be a gateway for AR into the iPhone (artist impression)